Ghana: French bank Société Générale denies its withdrawal from the country

Ghana: French bank Société Générale denies its withdrawal from the country
Ghana: French bank Société Générale denies its withdrawal from the country
© – Friday May 10, 2024 – 6:57 p.m.

A representation of the bank (ph)

There bank French Societe Generale refuted the rumors suggesting that she is considering exiting the Ghanaian banking sector and described the reports as unfounded speculation.

The general director of Societe Generale Ghana, Hakim Ouzzanideclared on May 8 during the 44th Annual General Meeting of Societe Generale Ghana in Accra, that the information published on the withdrawal of the bank from the Ghanaian market do not come from the group’s headquarters in France.

THE denial of the rumors comes after publications have been reported in recent days that after nearly 20 years of activity at Ghanathere bank French would have decided to withdraw from the country.

By confirming the denial of the rumors on the cessation of the activities of his financial institution GhanaOuzzani declared that “Some rumors have actually taken root regarding SG Ghana. But it is important to mention to all our stakeholders and our shareholders that the news circulating in the media was not issued by either the group or SG Ghana “.

He explained that although its French parent company, Societe Generalewas implementing comprehensive reforms in its business offerings to make it more efficient, no decision has been made on its withdrawal from the Ghanaian market.

There bank clarified that its current restructuring efforts are intended to align with broader international market trends, not to signal a departure from Ghana. There Societe Generale has reaffirmed its commitment to the African market, with a focus on regions where it can establish itself as a leading financial institution.

Let us remember that the rumorswhich are deniales, had made people believe that the Societe Generale is considering leaving the Ghanaian banking sector after 20 years. They intensified following the recent transfers of the bank in Africa, notably the transfer of its Moroccan operations to the Saham group and its exit from several other African countries such as Congo, Equatorial Guinea, Mauritania, Burkina Faso and Chad.


Permanent correspondent of KOACI at GhanaTogo and Nigeria

– Contact the editorial staff of (+228) 98 95 28 38 or [email protected]



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